3 cryptocurrencies to turn $100 into $1,000 in Q4 2024
As 2024, the year marked by exciting movements in the cryptocurrency sector, slowly moves towards its final quarter, crypto traders and investors are increasingly looking at its potential assets that could deliver a relatively substantial profit.
Indeed, there are a few crypto assets that could be just the thing they are looking for, possibly increasing their price 10-fold in the fourth quarter of 2024 and allowing their holders to turn a $100 investment into $1,000, provided that all the related factors continue to line up positively.
#1 Compound Finance (COMP)
Specifically, one of these assets is Compound Finance (COMP), the token of decentralized finance (DeFi) lending protocol with a market capitalization of $400 million and a total value locked (TVL) of $2 billion, and which crypto market expert Michaël van de Poppe believes is promising.
Compound Finance TVL and market cap analysis: Michaël van de Poppe
At press time, COMP was changing hands at the price of $50.40, which indicates a 2.28% drop in the last 24 hours, an increase of 16.36% across the previous seven days, and a slight decline of 1.57% over the past month, as per chart data on August 26.
Compound Finance price 7-day chart. Source: Finbold
#2 Flow (FLOW)
Furthermore, Flow (FLOW), the native token of a decentralized blockchain designed for high-speed transactions and develop friendly environment, is looking at the network’s upcoming Crescendo upgrade in September as a potential trigger for its price increase.
With the biggest upgrade to Mainnet since genesis, Flow will be connected to the entire web3 ecosystem through complete EVM Equivalence.
Learn about the road to Crescendo ⤵️https://t.co/7LooHw2mPJ pic.twitter.com/mSCuCuTapv — Flow 🌊 (@flow_blockchain) August 2, 2024
For now, Flow is trading at the price of $0.59715, recording a very modest 1.27% decline on the day, having advanced 13.17% over the week but accumulating a loss of 11.02% on its monthly chart, according to the most recent information retrieved by Finbold.
#3 MultiversX (EGLD)
Finally, MultiversX (EGLD) is expecting a ‘bullish outlook’ on its price chart, according to pseudonymous crypto analyst Lluciano_BTC, a.k.a. Lucky, who had earlier observed its massive 24-hour surge and a falling wedge pattern illustrating a declining bearish momentum.
MultiversX price performance analysis. Source: Lucky
Meanwhile, the price of EGLD at the time of publication stood at $31.84, which suggests a 2.50% increase on its daily chart, adding up to the advance of 20.25% across the week, as it reduces its monthly losses to 5.74%, according to the data on August 26.
EGLD price 7-day chart. Source: Finbold
Conclusion
All things considered, the above cryptocurrencies might be a good opportunity to turn an investment of a mere $100 into $1,000, provided that the sentiment around them remains positive and other aspects continue to be in their favor. However, doing one’s research is critical as trends can change.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.